Month: November 2022

Naturally, when the presentation includes more than one time period the title “Balance Sheets” should be used. Of the many types of Current Assets accounts, three are Cash and Cash Equivalents, Marketable Securities, and Prepaid Expenses. If demand shifts unexpectedly—which …

Order of Liquidity Everything You Need to Know Read more »

For instance, coming out of the Great Recession, the banking giant Bank of America reported a $1.4 billion profit on its standard income statement, but a loss of $3.9 billion based on comprehensive income. The difference had to do with …

How Does Other Comprehensive Income Affect Regular Income? Read more »